Jay Z is reportedly making moves to own the rights to unreleased music from the late Prince.
According to TMZ:
“Jay Z tried to snap up all the unreleased Prince music that was unearthed at Paisley Park after the singer’s death…Jay met with Prince’s sister, Tyka, and her husband, Maurice Phillips, several weeks ago. The mogul flew Tyka and Maurice to NYC to meet with him.
Sources close to Prince’s family tell us … Jay made an offer of around $40 million. We were unable to confirm the figure from Jay’s camp.
But there was a rub. Tyka may be Prince’s only full sibling, but she has to get sign-off from all the brothers and sisters, in addition to the trust that is managing the estate.
Word is that Jay is still in the running to get the overall deal for streaming rights … but it will be very expensive and there are some major players in the game.”
If HOV wants ownership of the unreleased music, he must first get approval from Tyka and Prince’s six living half-brothers and sisters.
It’s important to note that Jay Z’s TIDAL streaming service has exclusive access to Prince’s catalog
Before ultimately passing, Prince pulled his music from Spotify, Apple Music and others and handed over his catalog to Jay for a solid piece of equity in the company.
“Tidal is a new company, it’s brand new,” Prince told Ebony magazine in an August 2015 interview.”
“Where there’s a company like that, or the OWN network -situations where we finally get into a position to run things – we should all help.”
While Tidal has reportedly been struggling to compete, the acquisition of unreleased music in addition to the exclusivity of his catalog would be a huge look.
Let’s see what Hov can do!